How high is our inventory really?

**Tyler Schacter** · 08-11-2008, 02:16 PM

Regarding the currenty market in Langley BC:

Yes, the current inventory of the Fraser Valley Real Estate Board is at an all time high of 12,300 units, but is this figure as scary as it sounds?

The previous record that has just been broken was set in 1995 when the inventory levels reached 12,000. The local real estate market in Langley was fairly stagnant at the time. Keep in mind, the population of the Township of Langley (TOL) was approximately 65,000 in 1995. This means that there were 0.18 listings in the Fraser Valley for every resident of the TOL. This is not an entirely useful figure; however it will work for the purpose of comparison.

[SIZE=3][FONT=Times New Roman]The current population in the TOL is approximately 100,000. With a listing inventor of 12,300 in the Fraser Valley , this works out to .12 listings for every resident of the TOL. Our listing inventory would have to rise to over 18,000 units to be a comparably dismal market to that of the mid 90

**SellMyDigs.com** · 08-17-2008, 10:47 PM

One way to get an accurate picture of a market is to compare inventory vs the number of homes selling. if your inventory is 12,000 and you are selling 6,000 a year your market may be better than if your inventory is 5,000 and you are selling 1,500 homes per year.

**jamesww** · 08-18-2008, 03:32 PM

In Houston everyone is complaining about how the inventory numbers are high but I find this very funny because in July we finally reached our Median historical inventory numbers. And still have not crossed the average historical inventory numbers for the Houston market. Right now we are sitting on 6.9 months of inventory which is far less then 9 and even 12 months of inventory the we saw pre 2003.

The media just likes to stir things up and cause trouble because trouble sells more advertising.